Senate Reaches a Deal on a Stimulus PAckage
Tonight, Feb 6, 2009 the US Senate reached a deal on a stimulus package.
Total package is $780 billion, down from the original package of $937 billion. The package is made up of tax cuts and new spending. Details aren't release but much of the new spending will go towards victims of the recession in the form of Food Stamps, Unemployment compensation and Health Care. Funds are included for construction of highways and bridges.
There is more work to be done before final passage. It takes 60 Senators to pass as this package would require a rise in the national debt.
Stay tuned to this space for the details of the tax cuts and spending.
Total package is $780 billion, down from the original package of $937 billion. The package is made up of tax cuts and new spending. Details aren't release but much of the new spending will go towards victims of the recession in the form of Food Stamps, Unemployment compensation and Health Care. Funds are included for construction of highways and bridges.
There is more work to be done before final passage. It takes 60 Senators to pass as this package would require a rise in the national debt.
Stay tuned to this space for the details of the tax cuts and spending.
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